The number of Indian investors applying for the US EB5 Golden Visa has increased after the Reform and Integrity Act was implemented in 2022. The increase in Indian EB5 Visa filings was due to beneficial provisions such as the availability of reserved visas, priority processing, and enhanced transparency and investor protection. Our article will explain further each of these advantages for Indian investors under the EB-5 Reform and Integrity Act (RIA).
India continues to be one of the countries with the most EB-5 Visa applications and approvals. With the US Golden Visa, you and your family enjoy unrestricted rights to live, work, and study anywhere in the United States. Starting your EB 5 Investor Visa application now saves you on tax fees and filing fees which are set to increase the overall cost of the US Investment Green Card. We’ve successfully helped hundreds of Indian investors and their families gain Green Cards in the USA. We’re here to help you get yours too.
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Why Did Indian Investor Applications for the US EB5 Golden Visa Increase After RIA?
Indian investor applications for the US EB5 Golden Visa surged after the implementation of the Reform and Integrity Act (RIA) in March 2022 owing to the provisions for faster Green Card processing and enhanced transparency and accountability rules for all program participants. Indian investor applications for the USA EB5 Golden Visa increased by 400% between 2016 and 2019 according to the U.S. Citizenship and Immigration Services (USCIS) reports.
The EB-5 Reform and Integrity Act (RIA) of 2022 reauthorized the EB-5 Regional Center Program for a further 5 years, through September 30, 2027, following a 9-month hiatus which contributed to the overall revived demand for the US Investment Green Card. Indian investors, especially those on temporary visas such as F-1 and H-1B, have since looked to the EB 5 Visa to obtain a USA Green Card more quickly without the need for sponsorship.
What are EB5 Visa Statistics for Indian Investors in 2022?
India ranked second in the top countries with the most EB 5 Investor Visa approvals for the fiscal year 2022 based on data from the 2022 Report of the Visa Office from the U.S. Department of State (DOS). A total of 1,381 Indian investors received EB5 Visas in fiscal year 2022, a 75% increase from fiscal year 2019, with most approvals coming from those who adjusted their status in the U.S. through regional center investments. The EB-5 Visa Statistics by Country for Fiscal Year 2022 included separate columns for unreserved and reserved visas as part of the changes under the RIA. No data were recorded under the reserved visa column for fiscal year 2022 since petitions for the reserved EB 5 category will only have been adjudicated by the end of the said fiscal year.
What are the Benefits of the EB5 RIA for Indian Investors?
The main benefits of the EB-5 RIA for Indian investors are the opportunity to qualify for reserved visas, skip lengthy processing times, and gain increased protection under the integrity and transparency measures of the new legislation. Let’s look further into these advantages afforded to Indian EB 5 Visa investors.
Reserved Visas
A unique category has been created under the EB5 Reform and Integrity Act which allocates visa set-asides for investors in Targeted Employment Areas (TEAs) and infrastructure projects. Targeted Employment Areas (TEAs) are high-unemployment areas or rural areas. Of the annual EB 5 Visas available each year, 10% are reserved for high-unemployment TEAs, 20% are reserved for rural TEAs, and 2% are reserved for infrastructure projects. EB-5 investors from high-demand countries such as India highly benefit from this allotment of set-aside EB5 Visas at a much lower investment amount of $800,000.
Faster Processing
Indians investing in TEA or infrastructure projects also qualify for priority processing of Form I-526 (Immigrant Petition by Standalone Investor)/Form I-526E (Immigrant Petition by Regional Center Investor) which significantly reduces the total EB 5 processing time. The faster USA EB-5 Visa processing for Indian investors under the RIA is greatly advantageous for those already holding H1B or F1 Visas in the U.S., as well as those applying for the EB-1 Visa since Indians face at least 10 years of backlog for this employment immigrant category.
Increased Investor Protection and Transparency
The EB5 RIA enhances investor protection by increasing the accountability of all parties involved in the program to fight anomalies such as fraud, fund misappropriation, and non-compliance. Certain actions such as the implementation of the EB-5 Integrity Fund, rigorous background checks and site visits by USCIS officials, and stricter reporting requirements help to increase investor confidence in the Immigrant Investor Program.
Why Now Is the Best Time for Indian Investors to Apply for the US EB5 Golden Visa
Now is the best time for you to invest in an EB-5 Immigrant Visa whether you’re an investor located within or outside of India. The US EB-5 Investor Visa is the ideal alternative for Indians on H-1B Visas, especially those who were laid off by U.S. tech companies. As an EB 5 investor, you’re able to self-petition for a Green Card USA even without employer sponsorship. You and your family can remain in the United States and enjoy unrestricted rights to live, work, and study anywhere in the country.
As an investor in India, you can still qualify for the 5% Tax Collected at Source (TCS) for foreign fund transfers before the 20% increase takes effect on October 1, 2023. The 20% tax increase on overseas fund transfers from India affects the accounts of legal residents of India and not those of non-residents.
Finally, Indian applicants for the US EB5 Golden Visa can take advantage of the current filing fees before the proposed increase in 2024. USCIS postponed the EB-5 filing fee increase to 2024 after their announcement last January was met with criticisms from industry stakeholders. You’ll save $7,485 if you file your EB5 petition now before the 204% increase in early 2024.
EB5 BRICS Helps Indian Investors Get a US Green Card
The EB5 BRICS team regularly conducts EB-5 events in India to educate investors like you about getting a Green Card fast through investment. Two of our investors have already been granted I-526E approvals in just a year since the RIA took effect in 2022 and many of our Indian clients have already received their EB5 Green Cards. Schedule a one-on-one consultation today by contacting us and start your US Green Card journey today!